May 14, 2024 • 24 mins
Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald.
A Special Episode… ” Whatever you decide to call it, Rushion McDonald hosts and stars in this exceptional episode of the Money Making Conversations Master Class Podcast.
Truly emphasizing the namesake of his show, Rushion shares stories of how his various failures in running a small business have taught him important lessons that he continues to keep with him to this day. From the importance of budgeting your business correctly to the dangers of hiring unqualified family members to ensure you fully understand the person you are going into business with, Rushion McDonald weaves a cautionary tale outlining the dangers of ignorance and the importance of proper planning. This way, regardless of what entrepreneurial endeavor you wish to go into, you can do what Rushion always encourages his listeners to do and “Keep Winning.”
Support the show: https://www.steveharveyfm.com/
See omnystudio.com/listener for privacy information.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
If you're about to make a change in your life
and you feel uncomfortable, that's the best feeling you can
have because for the first time in your life, you'll
make a new decision that's going to be best for
you and not what somebody told you to do. And
that's when all bets are off. Welcome to Money Making
Conversation Masterclass. I'm your host, Rashaan McDonald. Our theme is
(00:22):
there's no perfect time to start following your dreams. I
recognize that we all have different definitions of success. For
you and maybe decide to your ha, it's time to
stop reading other people's success stories to start living your own.
Keep winning. I am going to be talking about how
(00:43):
to be a successful business owner. Well guess what I
have failed. I have done so many mistakes and I'm
gonna share some of those mistakes. Let's get started here.
I'm gonna ask some questions about it.
Speaker 2 (00:56):
This.
Speaker 1 (00:56):
Has anybody ever thought about you can raise your hand,
you can raise your and your car driving you know,
just raise your eyebrow. Thought about starting a business? Why
didn't you do it? Have you ever thought about hiring
people for your business and you've hired the wrong people?
Have you ever thought about hiring relatives and guess what,
you hired those relatives. Have you ever hired people that
(01:19):
you were getting a good deal on them? Oh they
got Oh they cheap. Oh that salary fits right into
my budget. But they don't have the experience. Am I?
Am I tapping into the right lanes with some of
y'all out there? Or how about starting your business and
you don't even have a budget. It's just a good idea?
(01:42):
Am I tapping into anybody out there? Yet? Okay? How
about this? How about this? You start a business with
somebody you don't know? How about that? How about how
about this? You start a business? You know, I'm from Texas.
So they say you can start a business with a
handshake that's will be contractual. I've done that before. Yeah,
(02:04):
you don't make how to be a successful business owner?
As a bold statement for me to say marketing and branding.
Have a company called thirty and fifteen Media, Inc. Based
in Atlanta, Georgia. I started it as an idea and
I just started hiring people. Were they the best qualified people? No?
(02:26):
In hindsight, No, But I knew them. I knew them,
they knew me. We had long term relationships, they could
do certain things, and I hired them. That's the number
one problem with most people who fail in this business
is they hire people just because they're close to them.
(02:48):
They hire people because they make them feel comfortable. You
hire people because they're just right there and they're available
to be hired. That's the number one and the number
two mistake. Do you have time for your business? Wow?
(03:10):
You know I would tell people this. I get up
at four thirty money to do fraudt that's one time
forour thirty am I get up and people always going
whoa woo four thirty when you're doing it front thirty.
I was fortunate to give a speech uh I was
at It was an area in Atlanta called Lithonias, right
outside of Atlanta Georgia Chamber of Commerce, and I was
(03:33):
speaking to them. That's one of the reasons they brought
me over. It was to speak about how to be
a successful business owner. And when you're speaking to tp
people about being a successful business owner, one thing you
have to admit that is that you made mistakes. I
opened a comedy club in Houston, Texas called Hip Hop
Comedy Style. I got in business with a person I
(03:56):
didn't even know that's what He was a stand up
comic too, so he liked telling jokes. I liked telling jokes. Yeah,
I guess he'd make a good business part. So that's
how we got in. That's like you, that's like you
like to eat chicken, and you know somebody who makes
good chickens. So y'all just gonna go into chicken business.
(04:18):
Same same thing, same thing. I didn't know his likes,
his dislikes. I didn't know his work happens. I didn't
know if he like getting up early but he likes
staying late. Didn't even have an idea of how to
run a business. That's how I got in business. But
the other side of that is that it became a
very popular comedy club. Lines out the door. I just
(04:43):
do a show on Thursday. Tickets are gonna sell on Monday.
They were sold out in the hour. That's how popular.
Was a room seats like three hundred and fifty people,
A line out the door on Thursday show showtime, I
hit stage at eight nine o'clock. People wouldn't go in
the room until it was nine eight thirty. Was an
empty They didn't want to see the other comics I
walk in nine o'clock, room packed, eight thirty to eight
(05:06):
fifty five, room was empty, nine o'clock packed. We were
making money. But what just what what happens when you
start making money? I forgot? You pay taxes, You pay
taxes on tickets, you pay taxis on liquor. So so
those little things. So all that money that you're making,
(05:29):
somebody else want a piece of it. So you can't
look at ten dollars as a real ten dollars. But
because I didn't have a budget, because I didn't take
time to understand how to run a business, I was
just doing all the wrong things. So I'm sure a
lot of you guys out there, ladies, I think, because
(05:50):
women are the fastest growing entrepreneurial part in this company,
especially black women, y'all just running things now, way opening
up business. I'm sure you opening up business a lot
more than me, better than me. So I was making money,
but couldn't understand how selling out. But I can't pay myself,
(06:17):
so I was just working for free because I didn't
have Because what you can't do, I'm telling you something
about this, the biggest mistake in a business. You can't
open a business and then try to sell the budget
because now you're playing catch up because you can't justify
because you didn't have a budget at the beginning. You
(06:39):
to have known why you have all these people hanging
around you getting checks for you or wanting to get
checks for you, then you understand why you fail. So
when you're making money as a business owner, you can't
be successful because of the reason that if you try
to be successful, because you never had a plan. That's
the numb more reason we fail. And the other num
more reason we fail is do you have time for
(07:00):
your business. I can't tell you how many people get
mad because the store after a while they open their business.
It opens a ten but they getting there at the
same time the customer should get there. They getting mad
because the customers got their own time, not knowing they
got a restaurant here, They got to pre set up
everything the customers. Yea be in a restaurant. You've been
(07:23):
in a restaurants where oh, we don't have that on
the menu today. Doesn't that make you mad? Oh we
ran out? How you gonna run out of something that's
on your menu? Didn you plan to make this? Then
you plan this, make this a part of your regular.
I've been. I've been in restaurants where they have actually
(07:43):
used a marker to strike through things that they don't
do in their menu. No more. Now I'm supposed to
come back for that. Here it is a little note
now about business. It's called consistency. I always tell people
a little I'm just using Target as an example. If Target,
if you drove by Target at night and they sign
(08:04):
wasn't on, you think they'd be closed. So if like
on Monday, Tuesday, and Wednesday, Target sign was on, but Thursday,
Friday and Saturday was off, you think they'd be out
of business, or you stop trusting them so you won't
go there or put them on the list, and you
actually started spreading rumors, negative rumors about Target or business
(08:26):
like Target. And that's what happens if we're inconsistent. So
if you if you open opening the business and you're
saying you doing things, you gotta be there to do it,
and everybody sees the profit line, you know, they buy franchise.
You know they want to our franchise like Chick fil
A or Jagging Bars or McDonald's or they heard or Bojangles.
(08:47):
That's a that's a real hot franchise right now that
people are buying, it still requires work. And so what
these franchises try to do they try to train you.
So you're gonna pay a fee, but they just don't
let you just run out there. They're gonna find out
if you have time too to run their franchise because
(09:07):
they're applying the same business principles that I am doing
in this conversation I'm having with you right now, the
conversation of being able to sit down and apply to
you and make sense plan of how you can be successful.
So when you buy a franchise, what they do is
they bring you in, they sit you down, and they
have you work with somebody who has your best interests.
(09:31):
Listen to me, now, your best interest because what they
don't want to do is put a franchise out there
and it clothes because it makes them look bad. So
now if you don't have time, but you heard, did
these franchises make a lot of money? Then they gonna
have a problem with you. Then you're gonna get mad
at them because they telling you why you're not there
to open up their business on time. And guess what
(09:54):
they gonna do after a while, They'll come take their license.
Then what you're trying to do now, you're trying to
suit you. Now you huddle up with your friends and family,
all you in the corners just cussing and fussing like
they've done you wrong. But you're the one didn't live
up to the standards. They have, copyright, they have, they have.
You just can't let anybody in the kitchen. If you
(10:16):
making donuts, you just can't let it. You just can't
shoot a video back there for TikTok making donuts back there,
making cakes back there. You mad because that's their recipes.
Everybody can't see this because you don't know the rules.
You want to try to make your own rules. That's
(10:37):
why you won't be successful. I'm gonna tell you why
I was not successful at my comedy club, even though
lines at the door. You can look it up. Hip
Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,
Texas one of the most popular comedy clubs in the country.
Everybody came through the Joe tur Subject, they detainer some more,
(10:59):
all all the big stars came through there, Steve Harvey,
everybody came to that.
Speaker 3 (11:05):
Club, made no money, made no money, broke even because
I didn't have a budget because I didn't know what
I was doing. I was in business with a person
I didn't know, and he had a full time job.
(11:31):
So guess what he kept saying, Hey, man, you got it,
you got it, you got it. Well, guess what I
got tired of being the person who got it. Then
I had family WHOA. When we come back, we're gonna
talk about hiring family. Who hire family, So that's a
big a mistake you can make. Hire family now, especially
(11:53):
when the mama, when the mama told you to hire him.
This with Sean McDonald Marking and Brandy Expert telling you
how to be a successful business owner.
Speaker 1 (12:01):
We've already covered have time for your business. Now we're
gonna do you how relatives because you love them. We'll
be right back with boy Money Making Conversation mass Class.
Don't go the where y'all I just got started.
Speaker 2 (12:16):
WHA, Please don't go anywhere. We'll be right back with
more Money Making Conversations Masterclass. Welcome back to the Money
Making Conversations Masterclass, hosted by Rashan McDonald. Money Making Conversations
Masterclass continues online at Moneymakingconversations dot com and follow Money
(12:36):
making conversations masterclass on Facebook, Twitter and Instagram.
Speaker 1 (12:41):
Hi, this is Rashan McDonald. I'm telling everybody this is
my opinion. It's not the opinion of the station. You're
listening to this. Rashan McDonald just just pouring his soul
out on the show today a little bit. I'm gonna
start doing this more off. I like this. I though
I'm have great guests, but I think you guys need
to hear. How did I become the person I had?
I became, ill become and I will continue to become.
(13:01):
How to be a successful business owned business owner is
the topic? Mars. How you doing? My friend Morris is
on the line. Talk to me, marris's ' Sean mcgon's speaking.
How you doing?
Speaker 4 (13:10):
Hey, I'm doing well? How are you what you want
to talk about?
Speaker 1 (13:13):
Mars?
Speaker 4 (13:14):
Good? So I wanted to find out if you have
any recommended sources where we could learn how to properly
budget for a business. I know, of course you can
google and things like that, but are there any resources
that you specifically recommend to help us properly establish a
budget for our business?
Speaker 1 (13:33):
Absolutely called Small Business Administration. They're in every major city
and please go to them. Because when I opened my
comedy club, I went there and when I went there,
and I'm just using a club for an example. If
they tell you, if you can tell them your club
is three thousand square feet, they'll tell you how many
table chairs you need. They'll tell you how many classes
(13:54):
you need. They'll tell you everything because they have books.
And then they have another part called Score, and Score
is made up of retired executives, people who are entrepreneurs,
people who have been in the business successful, and they
can mentor you. They can mentor you so you can
ask these honest questions. It's called Score, and it's called
small business administration. And believe me, I tell people about
(14:16):
this all the time. Do not step out there dreaming
without a plan, Because you dreaming of the planet, they
gonna come and slap you in the face and wake
you up and it will be a nightmare when you
wake up. I walk up into a nightmare. I kid you, not, Morris.
I was making money and I never saw none of
it because I didn't have a budget. I didn't understand
who I was in business with. And guess what. In
(14:37):
the end, I hired my relatives and guess what they
had full time jobs, so they will not commit it
to my dream because they had to get back to
work the next day. So Small Business Administration SBA, and
it's called score like you score a touchdown those two organizations.
You can get it through Small Businessmen SBA right here
(14:59):
and George you is also in Texas, is also in
New York. Is also any major state, any major city
has it. I would advise you to call them and
guess what. It's free.
Speaker 4 (15:09):
Oh excellent, that's even better.
Speaker 1 (15:11):
Well, good luck, my friend. Thank you for calling the
money make compans in medical health. Hope you got something
out of the call. Thank you, my friend, Angela.
Speaker 4 (15:18):
How you doing, I'm good?
Speaker 5 (15:21):
Thanks taking my call.
Speaker 1 (15:23):
What question can I answer for you? Angela?
Speaker 5 (15:26):
I would love I appreciate you sharing your your failures
because I think that helped sets the stage for me
going into acquiring a business man. So yeah, please just
continue to share some of the lessons learned because.
Speaker 4 (15:40):
I'm learning a lot. Don't hire your family.
Speaker 5 (15:43):
Plan your work and working.
Speaker 1 (15:44):
Well'n teach them them. It's hi you. I hire your family, though,
because I don't want to give all family members of
bad reputation. Now, do not hire your family as if
your Mama told you to hire. Okay, Okay, don't hire
them that way. Don't hire your family out of love. Okay,
those two things. Now, if your family's qualified, they've done
(16:07):
the work, they will put in the work they're hired.
You treat them like. Here's the thing I would tell people.
If you hire a family member, they should have the
same qualifications and put out the same effort of somebody
you would not know that you wanted to hire for
the same position. But if you're bringing them in and
you loan the qualifications, you will lawn the work ethic.
(16:28):
You will lower the responsibility for that same job. So
now you've lowered the standard for that job three times.
So why do you expect that person to be effective
when you need them to work forty hours a week?
Speaker 4 (16:41):
Is it?
Speaker 1 (16:42):
I'm gonna roll here. I gotta tell you something else.
If you hire somebody, then they start changing the rules
on how they work. You know what I'm saying. You see,
I'm very clear and when I hire people, and you
should be very clear, because you sent up. You send
a letter to them outlining the job description, you both
(17:04):
agreed on the salary. After a couple of weeks they
started they start coming in making an excuse, you like, well,
you know, I gotta pick up the kids. Okay, you
tell me about that when.
Speaker 5 (17:18):
I hired you.
Speaker 4 (17:19):
Okay, you tell me about that.
Speaker 1 (17:22):
Or I gotta leave work early because of traffic. You
tell me about that when I hired you, though, So
so what happens is you have to be able to
see certain questions you can't ask when you hire people.
But if somebody ubers to the interview, I wouldn't hire.
Speaker 5 (17:43):
Okay, you lay the foundation straight from the beginning.
Speaker 1 (17:48):
But of course you know there's certain questions you cannot
ask when you ask, but you have to have common
sense and a whole approach. If you should ask somebody
where they live. You know, my my company up in Alpharetta.
Now anybody down there by the airport, I have to
question whether or not they can come to my job
(18:09):
on the regular basis. I just have to question that
because I know there's heavy traffic in the morning and
the afternoon, and my job is eight to five. So
I don't care how much they say they want the job.
I have to do common sense realize I may be
compromising my business because guess what happens, They're gonna come
in and start changing the rules with traffic, uh, family issues, uh,
(18:34):
you know, and then then they're gonna say something to you.
They're really gonna make you mad. You know, your job
kind of far but you know all that. But you
knew all that when you hire that person, because guess
what they told you where they lived, but you ignored it, younor,
(18:55):
So Angela, thank you for calling. These are some of
the little things. And I'm not finished. So keep your
keep your radio on because I got more to talk about.
Keep your podcast on all that, guess I will. Now
here's the problem that a lot of people have when
they open the business. This I'm talking to business owner's
talking to the entrepreneurs. Listen to me. Parking. I don't
(19:19):
know why people think they can just open up, open
up a business and not worry about parking. I had
a comedy club, y'all. See I see see that comedy
club taught me a lot, y'all. I had no parking.
All my parking was on the streets out there on
the streets. Three hundred people cars parked out there on
(19:41):
the street, up and down the streets all up. Boy.
I was popular, though, But guess what happens when you
just parking any kind of way, any kind of way,
any kind of place. Bad things start happening. Bad people
start showing up, busting in car windows, so people would
(20:03):
leave my comedy shows, come back in over shun my
car being broken into so what So then my insurance
got to cover that. So suddenly my insurance starts going
up because I got a business, beautiful building, fantastic no
(20:28):
parking though if I ignored the no parking issue, because
guess what, I fell in love with the building. So
I had to hire people to walk up and down
the streets to stop people from busting into cars. Now
(20:48):
you see why I wasn't making no money When you
make all these ignorant decisions, no budget and business somebody
didn't know by the it's in the building for two
years with no parking.
Speaker 4 (21:06):
Rule.
Speaker 1 (21:09):
I'm gonna close this out about this person you should
never ever hire. Do not hire inexperience employees because they
are cheaper. I'm I'm just let that soak in a minute.
Do not hire inexperience employees because they are cheaper. One
(21:35):
they have no leadership abilities. Two they need constant supervision.
Three they do not understand the position and the company
and will not help you win. W I in capital
letters long term, and I'm gonna put a little quote
(21:58):
around here. I said something by relatives, do not hire friends.
I've done that. It has burnt me. When it came
time to make a decision. They reminded me that I
did them wrong. They reminded me that they were the victim.
(22:26):
They reminded me that I didn't know what I was doing.
And you're exactly right because I was running a business
based on friendship, no budget, family and a partner I
didn't know. You cannot win like that. Ladies and gentlemen,
(22:47):
as you listen to me talk about marketing and branding
and how to be a successful business owner. The bottom line,
it's on you look in the mirror and make a
decision that benefits you, your family, and your future. This
is another episode of Money Making Conversation Masterclass. I want
to thank y'all. I always thank y'all every week for listening,
(23:07):
and I just want to share the moments with you today.
I'm gonna do this once a month, share some of
my personal stories, my personal background as to why I
can talk like this, Because I've made mistakes and you've
heard the people who called in. I answered the question
because I know where to go now and I will
be able to help you as long as you listen
to me every time I open my mouth and bring
(23:29):
your guests on this show because it's for your personal
benefit and it's free. I'm ra Sean mcdonalk. We talked
to him.
Speaker 2 (23:37):
Thank you for joining us for this edition of Money
Making Conversations Masterclass. Money Making Conversations Masterclass with through Sean
McDonald is produced by thirty eight to fifteen Media Inc.
More information about thirty eight to fifteen Media Inc. Is
available at thirty eight to fifteen media dot com. And
always remember to lead with your guests
Speaker 3 (24:03):
Than
If you're about to make a change in your life
and you feel uncomfortable, that's the best feeling you can
have because for the first time in your life, you'll
make a new decision that's going to be best for
you and not what somebody told you to do. And
that's when all bets are off. Welcome to Money Making
Conversation Masterclass. I'm your host, Rashaan McDonald. Our theme is
(00:22):
there's no perfect time to start following your dreams. I
recognize that we all have different definitions of success. For
you and maybe decide to your ha, it's time to
stop reading other people's success stories to start living your own.
Keep winning. I am going to be talking about how
(00:43):
to be a successful business owner. Well guess what I
have failed. I have done so many mistakes and I'm
gonna share some of those mistakes. Let's get started here.
I'm gonna ask some questions about it.
Speaker 2 (00:56):
This.
Speaker 1 (00:56):
Has anybody ever thought about you can raise your hand,
you can raise your and your car driving you know,
just raise your eyebrow. Thought about starting a business? Why
didn't you do it? Have you ever thought about hiring
people for your business and you've hired the wrong people?
Have you ever thought about hiring relatives and guess what,
you hired those relatives. Have you ever hired people that
(01:19):
you were getting a good deal on them? Oh they
got Oh they cheap. Oh that salary fits right into
my budget. But they don't have the experience. Am I?
Am I tapping into the right lanes with some of
y'all out there? Or how about starting your business and
you don't even have a budget. It's just a good idea?
(01:42):
Am I tapping into anybody out there? Yet? Okay? How
about this? How about this? You start a business with
somebody you don't know? How about that? How about how
about this? You start a business? You know, I'm from Texas.
So they say you can start a business with a
handshake that's will be contractual. I've done that before. Yeah,
(02:04):
you don't make how to be a successful business owner?
As a bold statement for me to say marketing and branding.
Have a company called thirty and fifteen Media, Inc. Based
in Atlanta, Georgia. I started it as an idea and
I just started hiring people. Were they the best qualified people? No?
(02:26):
In hindsight, No, But I knew them. I knew them,
they knew me. We had long term relationships, they could
do certain things, and I hired them. That's the number
one problem with most people who fail in this business
is they hire people just because they're close to them.
(02:48):
They hire people because they make them feel comfortable. You
hire people because they're just right there and they're available
to be hired. That's the number one and the number
two mistake. Do you have time for your business? Wow?
(03:10):
You know I would tell people this. I get up
at four thirty money to do fraudt that's one time
forour thirty am I get up and people always going
whoa woo four thirty when you're doing it front thirty.
I was fortunate to give a speech uh I was
at It was an area in Atlanta called Lithonias, right
outside of Atlanta Georgia Chamber of Commerce, and I was
(03:33):
speaking to them. That's one of the reasons they brought
me over. It was to speak about how to be
a successful business owner. And when you're speaking to tp
people about being a successful business owner, one thing you
have to admit that is that you made mistakes. I
opened a comedy club in Houston, Texas called Hip Hop
Comedy Style. I got in business with a person I
(03:56):
didn't even know that's what He was a stand up
comic too, so he liked telling jokes. I liked telling jokes. Yeah,
I guess he'd make a good business part. So that's
how we got in. That's like you, that's like you
like to eat chicken, and you know somebody who makes
good chickens. So y'all just gonna go into chicken business.
(04:18):
Same same thing, same thing. I didn't know his likes,
his dislikes. I didn't know his work happens. I didn't
know if he like getting up early but he likes
staying late. Didn't even have an idea of how to
run a business. That's how I got in business. But
the other side of that is that it became a
very popular comedy club. Lines out the door. I just
(04:43):
do a show on Thursday. Tickets are gonna sell on Monday.
They were sold out in the hour. That's how popular.
Was a room seats like three hundred and fifty people,
A line out the door on Thursday show showtime, I
hit stage at eight nine o'clock. People wouldn't go in
the room until it was nine eight thirty. Was an
empty They didn't want to see the other comics I
walk in nine o'clock, room packed, eight thirty to eight
(05:06):
fifty five, room was empty, nine o'clock packed. We were
making money. But what just what what happens when you
start making money? I forgot? You pay taxes, You pay
taxes on tickets, you pay taxis on liquor. So so
those little things. So all that money that you're making,
(05:29):
somebody else want a piece of it. So you can't
look at ten dollars as a real ten dollars. But
because I didn't have a budget, because I didn't take
time to understand how to run a business, I was
just doing all the wrong things. So I'm sure a
lot of you guys out there, ladies, I think, because
(05:50):
women are the fastest growing entrepreneurial part in this company,
especially black women, y'all just running things now, way opening
up business. I'm sure you opening up business a lot
more than me, better than me. So I was making money,
but couldn't understand how selling out. But I can't pay myself,
(06:17):
so I was just working for free because I didn't
have Because what you can't do, I'm telling you something
about this, the biggest mistake in a business. You can't
open a business and then try to sell the budget
because now you're playing catch up because you can't justify
because you didn't have a budget at the beginning. You
(06:39):
to have known why you have all these people hanging
around you getting checks for you or wanting to get
checks for you, then you understand why you fail. So
when you're making money as a business owner, you can't
be successful because of the reason that if you try
to be successful, because you never had a plan. That's
the numb more reason we fail. And the other num
more reason we fail is do you have time for
(07:00):
your business. I can't tell you how many people get
mad because the store after a while they open their business.
It opens a ten but they getting there at the
same time the customer should get there. They getting mad
because the customers got their own time, not knowing they
got a restaurant here, They got to pre set up
everything the customers. Yea be in a restaurant. You've been
(07:23):
in a restaurants where oh, we don't have that on
the menu today. Doesn't that make you mad? Oh we
ran out? How you gonna run out of something that's
on your menu? Didn you plan to make this? Then
you plan this, make this a part of your regular.
I've been. I've been in restaurants where they have actually
(07:43):
used a marker to strike through things that they don't
do in their menu. No more. Now I'm supposed to
come back for that. Here it is a little note
now about business. It's called consistency. I always tell people
a little I'm just using Target as an example. If Target,
if you drove by Target at night and they sign
(08:04):
wasn't on, you think they'd be closed. So if like
on Monday, Tuesday, and Wednesday, Target sign was on, but Thursday,
Friday and Saturday was off, you think they'd be out
of business, or you stop trusting them so you won't
go there or put them on the list, and you
actually started spreading rumors, negative rumors about Target or business
(08:26):
like Target. And that's what happens if we're inconsistent. So
if you if you open opening the business and you're
saying you doing things, you gotta be there to do it,
and everybody sees the profit line, you know, they buy franchise.
You know they want to our franchise like Chick fil
A or Jagging Bars or McDonald's or they heard or Bojangles.
(08:47):
That's a that's a real hot franchise right now that
people are buying, it still requires work. And so what
these franchises try to do they try to train you.
So you're gonna pay a fee, but they just don't
let you just run out there. They're gonna find out
if you have time too to run their franchise because
(09:07):
they're applying the same business principles that I am doing
in this conversation I'm having with you right now, the
conversation of being able to sit down and apply to
you and make sense plan of how you can be successful.
So when you buy a franchise, what they do is
they bring you in, they sit you down, and they
have you work with somebody who has your best interests.
(09:31):
Listen to me, now, your best interest because what they
don't want to do is put a franchise out there
and it clothes because it makes them look bad. So
now if you don't have time, but you heard, did
these franchises make a lot of money? Then they gonna
have a problem with you. Then you're gonna get mad
at them because they telling you why you're not there
to open up their business on time. And guess what
(09:54):
they gonna do after a while, They'll come take their license.
Then what you're trying to do now, you're trying to
suit you. Now you huddle up with your friends and family,
all you in the corners just cussing and fussing like
they've done you wrong. But you're the one didn't live
up to the standards. They have, copyright, they have, they have.
You just can't let anybody in the kitchen. If you
(10:16):
making donuts, you just can't let it. You just can't
shoot a video back there for TikTok making donuts back there,
making cakes back there. You mad because that's their recipes.
Everybody can't see this because you don't know the rules.
You want to try to make your own rules. That's
(10:37):
why you won't be successful. I'm gonna tell you why
I was not successful at my comedy club, even though
lines at the door. You can look it up. Hip
Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,
Texas one of the most popular comedy clubs in the country.
Everybody came through the Joe tur Subject, they detainer some more,
(10:59):
all all the big stars came through there, Steve Harvey,
everybody came to that.
Speaker 3 (11:05):
Club, made no money, made no money, broke even because
I didn't have a budget because I didn't know what
I was doing. I was in business with a person
I didn't know, and he had a full time job.
(11:31):
So guess what he kept saying, Hey, man, you got it,
you got it, you got it. Well, guess what I
got tired of being the person who got it. Then
I had family WHOA. When we come back, we're gonna
talk about hiring family. Who hire family, So that's a
big a mistake you can make. Hire family now, especially
(11:53):
when the mama, when the mama told you to hire him.
This with Sean McDonald Marking and Brandy Expert telling you
how to be a successful business owner.
Speaker 1 (12:01):
We've already covered have time for your business. Now we're
gonna do you how relatives because you love them. We'll
be right back with boy Money Making Conversation mass Class.
Don't go the where y'all I just got started.
Speaker 2 (12:16):
WHA, Please don't go anywhere. We'll be right back with
more Money Making Conversations Masterclass. Welcome back to the Money
Making Conversations Masterclass, hosted by Rashan McDonald. Money Making Conversations
Masterclass continues online at Moneymakingconversations dot com and follow Money
(12:36):
making conversations masterclass on Facebook, Twitter and Instagram.
Speaker 1 (12:41):
Hi, this is Rashan McDonald. I'm telling everybody this is
my opinion. It's not the opinion of the station. You're
listening to this. Rashan McDonald just just pouring his soul
out on the show today a little bit. I'm gonna
start doing this more off. I like this. I though
I'm have great guests, but I think you guys need
to hear. How did I become the person I had?
I became, ill become and I will continue to become.
(13:01):
How to be a successful business owned business owner is
the topic? Mars. How you doing? My friend Morris is
on the line. Talk to me, marris's ' Sean mcgon's speaking.
How you doing?
Speaker 4 (13:10):
Hey, I'm doing well? How are you what you want
to talk about?
Speaker 1 (13:13):
Mars?
Speaker 4 (13:14):
Good? So I wanted to find out if you have
any recommended sources where we could learn how to properly
budget for a business. I know, of course you can
google and things like that, but are there any resources
that you specifically recommend to help us properly establish a
budget for our business?
Speaker 1 (13:33):
Absolutely called Small Business Administration. They're in every major city
and please go to them. Because when I opened my
comedy club, I went there and when I went there,
and I'm just using a club for an example. If
they tell you, if you can tell them your club
is three thousand square feet, they'll tell you how many
table chairs you need. They'll tell you how many classes
(13:54):
you need. They'll tell you everything because they have books.
And then they have another part called Score, and Score
is made up of retired executives, people who are entrepreneurs,
people who have been in the business successful, and they
can mentor you. They can mentor you so you can
ask these honest questions. It's called Score, and it's called
small business administration. And believe me, I tell people about
(14:16):
this all the time. Do not step out there dreaming
without a plan, Because you dreaming of the planet, they
gonna come and slap you in the face and wake
you up and it will be a nightmare when you
wake up. I walk up into a nightmare. I kid you, not, Morris.
I was making money and I never saw none of
it because I didn't have a budget. I didn't understand
who I was in business with. And guess what. In
(14:37):
the end, I hired my relatives and guess what they
had full time jobs, so they will not commit it
to my dream because they had to get back to
work the next day. So Small Business Administration SBA, and
it's called score like you score a touchdown those two organizations.
You can get it through Small Businessmen SBA right here
(14:59):
and George you is also in Texas, is also in
New York. Is also any major state, any major city
has it. I would advise you to call them and
guess what. It's free.
Speaker 4 (15:09):
Oh excellent, that's even better.
Speaker 1 (15:11):
Well, good luck, my friend. Thank you for calling the
money make compans in medical health. Hope you got something
out of the call. Thank you, my friend, Angela.
Speaker 4 (15:18):
How you doing, I'm good?
Speaker 5 (15:21):
Thanks taking my call.
Speaker 1 (15:23):
What question can I answer for you? Angela?
Speaker 5 (15:26):
I would love I appreciate you sharing your your failures
because I think that helped sets the stage for me
going into acquiring a business man. So yeah, please just
continue to share some of the lessons learned because.
Speaker 4 (15:40):
I'm learning a lot. Don't hire your family.
Speaker 5 (15:43):
Plan your work and working.
Speaker 1 (15:44):
Well'n teach them them. It's hi you. I hire your family, though,
because I don't want to give all family members of
bad reputation. Now, do not hire your family as if
your Mama told you to hire. Okay, Okay, don't hire
them that way. Don't hire your family out of love. Okay,
those two things. Now, if your family's qualified, they've done
(16:07):
the work, they will put in the work they're hired.
You treat them like. Here's the thing I would tell people.
If you hire a family member, they should have the
same qualifications and put out the same effort of somebody
you would not know that you wanted to hire for
the same position. But if you're bringing them in and
you loan the qualifications, you will lawn the work ethic.
(16:28):
You will lower the responsibility for that same job. So
now you've lowered the standard for that job three times.
So why do you expect that person to be effective
when you need them to work forty hours a week?
Speaker 4 (16:41):
Is it?
Speaker 1 (16:42):
I'm gonna roll here. I gotta tell you something else.
If you hire somebody, then they start changing the rules
on how they work. You know what I'm saying. You see,
I'm very clear and when I hire people, and you
should be very clear, because you sent up. You send
a letter to them outlining the job description, you both
(17:04):
agreed on the salary. After a couple of weeks they
started they start coming in making an excuse, you like, well,
you know, I gotta pick up the kids. Okay, you
tell me about that when.
Speaker 5 (17:18):
I hired you.
Speaker 4 (17:19):
Okay, you tell me about that.
Speaker 1 (17:22):
Or I gotta leave work early because of traffic. You
tell me about that when I hired you, though, So
so what happens is you have to be able to
see certain questions you can't ask when you hire people.
But if somebody ubers to the interview, I wouldn't hire.
Speaker 5 (17:43):
Okay, you lay the foundation straight from the beginning.
Speaker 1 (17:48):
But of course you know there's certain questions you cannot
ask when you ask, but you have to have common
sense and a whole approach. If you should ask somebody
where they live. You know, my my company up in Alpharetta.
Now anybody down there by the airport, I have to
question whether or not they can come to my job
(18:09):
on the regular basis. I just have to question that
because I know there's heavy traffic in the morning and
the afternoon, and my job is eight to five. So
I don't care how much they say they want the job.
I have to do common sense realize I may be
compromising my business because guess what happens, They're gonna come
in and start changing the rules with traffic, uh, family issues, uh,
(18:34):
you know, and then then they're gonna say something to you.
They're really gonna make you mad. You know, your job
kind of far but you know all that. But you
knew all that when you hire that person, because guess
what they told you where they lived, but you ignored it, younor,
(18:55):
So Angela, thank you for calling. These are some of
the little things. And I'm not finished. So keep your
keep your radio on because I got more to talk about.
Keep your podcast on all that, guess I will. Now
here's the problem that a lot of people have when
they open the business. This I'm talking to business owner's
talking to the entrepreneurs. Listen to me. Parking. I don't
(19:19):
know why people think they can just open up, open
up a business and not worry about parking. I had
a comedy club, y'all. See I see see that comedy
club taught me a lot, y'all. I had no parking.
All my parking was on the streets out there on
the streets. Three hundred people cars parked out there on
(19:41):
the street, up and down the streets all up. Boy.
I was popular, though, But guess what happens when you
just parking any kind of way, any kind of way,
any kind of place. Bad things start happening. Bad people
start showing up, busting in car windows, so people would
(20:03):
leave my comedy shows, come back in over shun my
car being broken into so what So then my insurance
got to cover that. So suddenly my insurance starts going
up because I got a business, beautiful building, fantastic no
(20:28):
parking though if I ignored the no parking issue, because
guess what, I fell in love with the building. So
I had to hire people to walk up and down
the streets to stop people from busting into cars. Now
(20:48):
you see why I wasn't making no money When you
make all these ignorant decisions, no budget and business somebody
didn't know by the it's in the building for two
years with no parking.
Speaker 4 (21:06):
Rule.
Speaker 1 (21:09):
I'm gonna close this out about this person you should
never ever hire. Do not hire inexperience employees because they
are cheaper. I'm I'm just let that soak in a minute.
Do not hire inexperience employees because they are cheaper. One
(21:35):
they have no leadership abilities. Two they need constant supervision.
Three they do not understand the position and the company
and will not help you win. W I in capital
letters long term, and I'm gonna put a little quote
(21:58):
around here. I said something by relatives, do not hire friends.
I've done that. It has burnt me. When it came
time to make a decision. They reminded me that I
did them wrong. They reminded me that they were the victim.
(22:26):
They reminded me that I didn't know what I was doing.
And you're exactly right because I was running a business
based on friendship, no budget, family and a partner I
didn't know. You cannot win like that. Ladies and gentlemen,
(22:47):
as you listen to me talk about marketing and branding
and how to be a successful business owner. The bottom line,
it's on you look in the mirror and make a
decision that benefits you, your family, and your future. This
is another episode of Money Making Conversation Masterclass. I want
to thank y'all. I always thank y'all every week for listening,
(23:07):
and I just want to share the moments with you today.
I'm gonna do this once a month, share some of
my personal stories, my personal background as to why I
can talk like this, Because I've made mistakes and you've
heard the people who called in. I answered the question
because I know where to go now and I will
be able to help you as long as you listen
to me every time I open my mouth and bring
(23:29):
your guests on this show because it's for your personal
benefit and it's free. I'm ra Sean mcdonalk. We talked
to him.
Speaker 2 (23:37):
Thank you for joining us for this edition of Money
Making Conversations Masterclass. Money Making Conversations Masterclass with through Sean
McDonald is produced by thirty eight to fifteen Media Inc.
More information about thirty eight to fifteen Media Inc. Is
available at thirty eight to fifteen media dot com. And
always remember to lead with your guests
Speaker 3 (24:03):
Than
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